Unchanging interest
I have car finance through mfc and I’ve been paying R1000 extra on my vehicle for the past year. The problem is the interest has not reduced since although I will finish paying earlier. I need someone to explain this please
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Nedbank's replyOfficial
14 Nov 2017, 07:44Hi Kefilwe
Interest rates will not drop if you pay extra towards a vehicle instalment, it will only assist in reducing your term of the finance. We will arrange for a Resolution Manager to contact you.
Kind regards
Client Experience Team
Best regards,
Nedbank's reply14 Nov 2017, 07:44
Official
Hi Kefilwe
Interest rates will not drop if you pay extra towards a vehicle instalment, it will only assist in reducing your term of the finance. We will arrange for a Resolution Manager to contact you.
Kind regards
Client Experience Team
Best regards,